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Thailand: Delay in new gov’t formation to affect economy

Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob has raised concerns about economic impact of a possible delay in the formation of a new government.
Thailand: Delay in new gov’t formation to affect economy ảnh 1Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob (Source: reuters)

Bangkok (VNA) – Governor of the Bank of Thailand (BoT) VeerathaiSantiprabhob has raised concerns about economic impact of a possible delay inthe formation of a new government.

According to him, investment under the state budgetfor the 2020 fiscal year, starting on October 1 this year, would be affected ifthe formation of the new government is delayed until August or September.

It would also affect public investment projects andthe economy as a whole as it could cause a delay of investment decisions in theprivate sector, particularly projects under Public-Private Partnerships schemesin the Eastern Economic Corridor.

He stated that the central bank has forecast theimpact of political factors under several scenarios. It previously revised downthe country's economic growth rate this year from 4 percent to 3.8 percent.

The revision includes the assumption that electionresults are endorsed in time by the Election Commission's deadline on May 9.

If a new government can be formed by June, theeconomic growth rate will not be affected as investment would resume in thesecond half of the year, he said.-VNA
VNA
#Governor of the Bank of Thailand Veerathai Santiprabhob#economic impact#possible delay#ormation of a new government#Thailand#Vietnam#Vietnamplus#Vietnam News Agency
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